1985 Fiscal Year Final Research Report Summary
An Empirical Research on the Effectiveness of Accounting Information in the Capital Market
| Project/Area Number |
58450063
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| Research Category |
Grant-in-Aid for General Scientific Research (B)
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| Allocation Type | Single-year Grants |
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| Research Field |
Accounting
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| Research Institution | Waseda University |
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Principal Investigator |
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| Project Period (FY) |
1983 – 1985
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| Keywords | Capital Market / Efficient Market Hypothesis / Stock Price / Accounting Information / Empirical Research / 株価 |
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| Research Abstract |
1. The Object of Research
This research aims to test whether accounting information such as financial statements published by the firms is effectively used to evaluate those firms in the capital market. We accomplished it by analyzing statistical correlations between announcement of accounting information by the firms listed on the Tokyo Stock Exchange and stock price changes of these firms.
2. The Research Design
We studied according to the following process.
(1) Selection of the research methodology
(2) Design of the research model
(3) Sampling of the experimental firms
(4) Collecting the relevent data
(5) Data processing by computer
(6) Interpretation and evaluation of the results
3. The Composition of this Research
This research has the following composition.
chapter 1. Accounting Information Effect of Financial Reports
2. The Information Effect of Financial Reports
3. The Information Content of Accounting Income Numbers
4. The Information Effect of the Business Performance
5. Income Forecast Information and the Stock Market
6. Single Firms' Financial Statements vs Consolidated Financial Statements
7. Stock Market Reaction to Changes in Accounting Methods
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